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Dec 26, 2012
12/12
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lawmakers have less than a week to come to an agreement on how to avert tax increases set to go into effect in january. . >> in new york police have found a bed in the burned out home of the man who killed two firefighters monday. the victim is believed to be the gunman's 67-year-old sister. a vigil was held monday night for the firefighters. two other firefighters in the hospital. police say ex-convict william spengler armed himself with three weapons and set his house on fire to lure first responders into a trap he kill himself. police say he left a rambling three page note saying he wanted to burn down the neighborhood and kill as many people as possible. he did not give a motive >> the world'sdhfhñ longest high speed rail line is up and running in china. the first bullet train left beijing this morning. the line connects the capital city with the commercial southern hub. the rail line is designed for top speeds of over 200 miles an hour. what used to take 22 hours will now take eight. >>> coming up, another holiday begins today where you can take part in the bay area's largest k
lawmakers have less than a week to come to an agreement on how to avert tax increases set to go into effect in january. . >> in new york police have found a bed in the burned out home of the man who killed two firefighters monday. the victim is believed to be the gunman's 67-year-old sister. a vigil was held monday night for the firefighters. two other firefighters in the hospital. police say ex-convict william spengler armed himself with three weapons and set his house on fire to lure...
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Dec 27, 2012
12/12
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their taxes will go up just next year, $7,500. and lebron james, you know, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minutes before the deadline clears. are we already past the point of no return? >> we are already virtually certain that we're going to go over this fiscal cliff. these guys suddenly came to an agreement over the next few days, they could pass it at the beginning of january. and we could not see many of the impacts. but i wouldn't be optimistic about that. >> jonathan karl, i have a feeling i'll see you here around 7:07 tomorrow morning. thank you, jon. >> amy? >>> let's go to paula faris with the other top stories develop right now. paula? >> we have an update on 41. we begin with growing concern about the health of former president george h.w. bush. he has suffered a setback. mr. bush is in intensive care after doctors were un
their taxes will go up just next year, $7,500. and lebron james, you know, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minutes before the deadline clears. are we already past the point of no return? >> we are already virtually certain that we're going to go over this fiscal cliff....
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Dec 24, 2012
12/12
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CNBC
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the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senate and he's the president of the united states. >> now the focus shifted to mitch mcconnell. the senate taking the lead on a compromise with democrats, and something that can get some support among house republicans. carl? >> hampton, thank you very much. hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, tho
the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senate and he's the president of the united states. >> now the focus shifted to mitch mcconnell....
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Dec 27, 2012
12/12
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they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year deadline. in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the markets. stocks fell sharply by 55 and change. the drop is attributed to consumer confidence fal
they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter:...
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Jan 1, 2013
01/13
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KPIX
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taxes. three hours before the midnight deadline, senate majority leader mitch mcconnell and vice president joe biden emerged with a compromise on taxes and agreed to wait on slashing spending. >> this was the mini cliff. the big cliff still lies in front of us. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> reporter: the bush-era tax cuts remain in place for individuals earning as much as $400,000 a year, far above the 250,000 level on which president obama campaigned. but those making more will see higher income taxes, capital gains, plus a new health care reform surtax. rob wood says you'll notice in your paycheck one popular tax cut will be history. >> the average person, say, earning $50,000 a year is going to pay about $1,000 more in payroll taxes in 2013. >> reporter: the fiscal cl
taxes. three hours before the midnight deadline, senate majority leader mitch mcconnell and vice president joe biden emerged with a compromise on taxes and agreed to wait on slashing spending. >> this was the mini cliff. the big cliff still lies in front of us. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do,...
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Jan 1, 2013
01/13
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KTVU
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a deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on finding smarter ways to cut spending. but let's not let that hold up perecing americans -- protecting americas. >> reporter: here is where they have been struggling, automatic spending cuts to the trillion dollars mark. it would effect the defense department and social programs. >> wee using -- we are using an ax instead of a scalp. >> reporter: even if there is a vote tonight in the senate the house still has toapprove something and they have -- to approve something and they have already gone home. they will be back on new year's day. ktvu channel 2 news. >> after years of deficits in california there is finally light at the end of the tunnel but that would change if the nation goes over the fiscal cliff. ktvu's ken pritchett is live with how failure in washington will hurt california. . >> reporter: reaching a deal tonight would be important. people next month make less money so they spend less and within 5 weeks california will see sales tax revenue drop. if there is n
a deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on finding smarter ways to cut spending. but let's not let that hold up perecing americans -- protecting americas. >> reporter: here is where they have been struggling, automatic spending cuts to the trillion dollars mark. it would effect the defense department and social programs. >> wee using -- we are using an ax instead of a scalp. >> reporter: even if...
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Dec 27, 2012
12/12
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KRON
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the main dispute continues to be over taxes. >> in national news. dallas cowboys nose tackle josh brent has been formally indicted on a charge of intoxication manslaughter. for the crash that killed a teammate. brent was arrested earlier this month after police say he flipped his car while speeding though a neighborhood in suburban dallas. brent survived the crash. but his friend and teammate. practice squad member jerry brown. died at a hospital. intoxication manslaughter carries a maximum sentence of 20 years in prison. no court dates have been set. >> right now parts of the country are dealing with the aftermath of a severe storm system that is being blamed for at least six deaths. and tonight. we have dramatic new video of a major tornado that ripped through mobile alabama last night. >> it is right there. we have to hurry up. >> officials say the tornado touched down five times in the mobile area -- ripping off roofs and shattering windows. the destruction was evident at a high school in mobile. were several portable classrooms were destroyed a
the main dispute continues to be over taxes. >> in national news. dallas cowboys nose tackle josh brent has been formally indicted on a charge of intoxication manslaughter. for the crash that killed a teammate. brent was arrested earlier this month after police say he flipped his car while speeding though a neighborhood in suburban dallas. brent survived the crash. but his friend and teammate. practice squad member jerry brown. died at a hospital. intoxication manslaughter carries a...
SFGTV: San Francisco Government Television
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Jan 1, 2013
01/13
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this year we are reformed from payroll tax and i heard that previous payroll tax hurt job growth and i agreed and propyl vision e was passed this last november and because of proposition e san francisco standards to ads more new private sector jobs and that is a huge success. i want to say supervisor that yes, the technology industry has been growing in san francisco and now includes over one thousand sen hundred companies that employed or 39,000 employees and this is something of which i am proud and i'm also proud that tech s f are training and connecting san francisco residents with diverse backgrounds to get those tech sector jobs, we will train and place over 2,000 san francisco residental in tech jobs over the next five years with our first tech s f graduating class this may. but that is not the whole story. recently economic studies have shown supervisor for every technology job created issue over four additional jobs outside of the tech field are sustained. and a full three quarters of the city's job growth has happened outside of the technology industry. the tourism industry
this year we are reformed from payroll tax and i heard that previous payroll tax hurt job growth and i agreed and propyl vision e was passed this last november and because of proposition e san francisco standards to ads more new private sector jobs and that is a huge success. i want to say supervisor that yes, the technology industry has been growing in san francisco and now includes over one thousand sen hundred companies that employed or 39,000 employees and this is something of which i am...
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Dec 30, 2012
12/12
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KPIX
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tax code, or stop across-the-board spending cuts. in both parties' weekly addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay a little more. >> the president's tax hike would only fund the government for eight days. americans deserve to know what is the president proposing we do for the other 357 days of the year. >> reporter: both the house and the senate will be in session tomorrow. the senate is expected to take the lead and vote on the scaled- back bill then send it to the house. as many americans brace for the worst, patience is running out. >> they're playing games with people's lives. and i don't think that's correct. >> reporter: even if congress manages to break the gridlock in time, more trouble is just around the corner when the u.s. reaches the debt limit again in a few weeks. tara mergener for cbs news, washington. >>> well, a new state law goes into effect tuesday. it worries people
tax code, or stop across-the-board spending cuts. in both parties' weekly addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay a little more. >> the president's tax hike would only fund the government for eight days. americans deserve to know what is the president proposing we do for the other 357 days of the year. >> reporter: both the...
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Dec 27, 2012
12/12
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to get out of high dividend funds and move into tax exempt bonds that won't be taxed. >> the current negotiate yigs between the president and house speaker could mean the reduction of the general deduction for chairitable contributions. >> if i wasn't receiving credits for helping out a charity, or in that situation why help them out? >> statements like that has the ceo of the united way of the bay area and other nonprofiting fighting to retain chairitable deduction autos it would be a big mistake to think this would only affect a few people, there are many donors that itemize and take advantage of the chairitable tax deduction including middle income people. >> and if that were to happen, i dithi it has to be phased out over a long period of time. >> it encourages people to buy houses versus renting. and... if they will lower the mortgage rate deductions people will think twice. >> whatever happens, this cpa thinks it's a good time to refinance if you have 15%-to-20 years left on the mortgage. >> and this could make a difference over the length of the mortgage. >> is that could with
to get out of high dividend funds and move into tax exempt bonds that won't be taxed. >> the current negotiate yigs between the president and house speaker could mean the reduction of the general deduction for chairitable contributions. >> if i wasn't receiving credits for helping out a charity, or in that situation why help them out? >> statements like that has the ceo of the united way of the bay area and other nonprofiting fighting to retain chairitable deduction autos it...
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Dec 27, 2012
12/12
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KQED
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all the tax votes you want, they're all tax cut votes. and conservative republicans believe their bargaining position improves. you reported on the debt limit but that becomes more of a concern as february approaches. they think they have leverage there to come bean the debt limit with the debate over more spending cut and more leverage on what they want from taxes. so there are strong voices on both sides so they say go over. >> warner: we better fasten our seat belts. ed to >> brown: still to come on the "newshour": a ban on adoptions from russia; the impact of austerity in greece; the tea party and the fiscal cliff and the administration's environmental record. but first, the other news of the day. here's kwame holman. >> holman: wall street was down much of the day, but trimmed its losses after news that the house will convene sunday to focus on the fiscal cliff. in the end, the dow jones industrial average shed 18 points to close at 13,096. the nasdaq fell four points to close under 2,986. also today, the labor department reported th
all the tax votes you want, they're all tax cut votes. and conservative republicans believe their bargaining position improves. you reported on the debt limit but that becomes more of a concern as february approaches. they think they have leverage there to come bean the debt limit with the debate over more spending cut and more leverage on what they want from taxes. so there are strong voices on both sides so they say go over. >> warner: we better fasten our seat belts. ed to >>...
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Dec 31, 2012
12/12
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tax rates. we'll also see unemployment benefits expire for millions and also, those automatic spending cuts, those will affect the defense department, other federal agencies. so there are some immediate effects here, michelle. >> we're looking at some live pictures now of the house floor. tell me, what will the president do if the senate cannot come up with an agreement? >> reporter: well, the president says if senators reid and mcconnell can't bring him an agreement, that he is going to ask senator reid to bring up his own plan it extend the bush- era tax cuts for the middle class and also to save the unemployment benefits. he is going to bring it up for an up-or-down vote. he says if republicans don't want it they should say no, but the public should know. >> we'll have to see what happens. danielle nottingham live in washington, thank you. >>> and remember, you can keep track of the fiscal talks anytime by logging on to our website, cbssf.com. >>> what do they say, work expands to fill the av
tax rates. we'll also see unemployment benefits expire for millions and also, those automatic spending cuts, those will affect the defense department, other federal agencies. so there are some immediate effects here, michelle. >> we're looking at some live pictures now of the house floor. tell me, what will the president do if the senate cannot come up with an agreement? >> reporter: well, the president says if senators reid and mcconnell can't bring him an agreement, that he is...
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Dec 31, 2012
12/12
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leaders are offering up to $450,000 in family income before higher taxes kick in. last night they were unable to make a counter offer to republicans, vice president biden was called in to break the ice. "good morning america" will have the latest at 7:00. >> number two, house fire in san francisco sent two to the hospital. two story structure on athens street was well involved by the time firefighters arrived before 1 this morning. a gas main ruptured crews were >> number three, secretary of state clinton, still in the hospital this morning. getting treated with blood thinners for a blood clot. the clot was found yesterday during a follow-up exam. the secretary suffered a concussion from a fall ii >> number four, stanford cardinal will make a final run through in pasadena opponent wisconsin appearing in its third straight rose bowl. they hope taylor will -- taylor -- >> number five, plenty of transit options from new year's eve revelry bart will run trains until 3:00 tomorrow morning, tree to ride muni 8:00 tonight -- free to ride muni 8:00 tonight. bart is not fre
leaders are offering up to $450,000 in family income before higher taxes kick in. last night they were unable to make a counter offer to republicans, vice president biden was called in to break the ice. "good morning america" will have the latest at 7:00. >> number two, house fire in san francisco sent two to the hospital. two story structure on athens street was well involved by the time firefighters arrived before 1 this morning. a gas main ruptured crews were >> number...
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Dec 31, 2012
12/12
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KOFY
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one, as far as tax hikes are involved -- republican and democrats have agreed taxes would not go up for families that make less than $450,000 a year or individuals who make less than $400,000 a year. as far as unemployment benefits that's could be extended. the president mentioned tuition tax credit extended. where there's still a great divide is automatic spending cuts. the deal on table brokered mostly by mcconnell and biden overnight, would delay those spending cuts for three months. some democrats have said they want them delayed one year. >> still issues left to resolve. but we're hopeful that congress can get it done. it is not done. and so, part of the reason that i wanted to speak to all of you here today is to make sure that we emphasize, to congress, and that members of both parties understand that all across america this is a pressing concern on people's minds. >> reporter: again, on the issue of tax increases and who constitutes the wealthiest of americans. the president was originally pitching a threshold of $250,000 a year in income. republicans wanted to see that as high
one, as far as tax hikes are involved -- republican and democrats have agreed taxes would not go up for families that make less than $450,000 a year or individuals who make less than $400,000 a year. as far as unemployment benefits that's could be extended. the president mentioned tuition tax credit extended. where there's still a great divide is automatic spending cuts. the deal on table brokered mostly by mcconnell and biden overnight, would delay those spending cuts for three months. some...
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Dec 26, 2012
12/12
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KRON
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without an agreement automatic tax increases for everyone in the spending cuts will be triggered and the new year. an enormous storm system of snow and sleet of the nation's midsection enemies damaging tornadoes are on the deep south has begun putting its way toward the northeast, slowing holiday travel. >> storm tracker for tracking the showers we're seeing an let's resume and these areas. you can see it is at very scattered in this area. the shower is rather berkeley while my creek but they are very light right now. palo alto and east palo alto and the fattal of valley as well use the moderate to heavy rainfall. cupertino, this san rafael, san jose getting a lot of rain this morning. you can see out toward santa clara and downtown san jose looking at very wet conditions. rain coming down up to half an inch an hour but these are fairly fast moving headed to the south east. they will only last a few minutes. this morning scattered showers are likely anyway also experienced some gusty winds. showers are expected to be on the clyde decline at this afternoon. tonight showers will and an
without an agreement automatic tax increases for everyone in the spending cuts will be triggered and the new year. an enormous storm system of snow and sleet of the nation's midsection enemies damaging tornadoes are on the deep south has begun putting its way toward the northeast, slowing holiday travel. >> storm tracker for tracking the showers we're seeing an let's resume and these areas. you can see it is at very scattered in this area. the shower is rather berkeley while my creek but...
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Jan 1, 2013
01/13
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KPIX
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. >> sales tax right here tomorrow, 9.5%. >> sales tax right here tomorrow, 9%. >> reporter: the tax from prop 30 will last the next four years. in el cerrito, mike sugerman, cbs 5. >>> coming up in the next half hour a live report from washington, d.c. the latest on the "fiscal cliff" fiasco. and we'll look more closely at one part of the budget debate that's drawn a lot of attention, the possibility of skyrocketing milk prices. >> and a new report on the benghazi disaster levels more harsh criticism of the state department. >> the california supreme court hands down one last ruling on bumper cars in 2012 next. >> and one more fireworks extravaganza before the break and this might qualify as the biggest of the year. earlier we showed you taipei 101. here's the world's tallest building, the burj khalifa that serves as the centerpiece for the fireworks in dubai. oh, my gosh, that's amazing. we're back in 2.5 minutes. ,,,,,, ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we'r
. >> sales tax right here tomorrow, 9.5%. >> sales tax right here tomorrow, 9%. >> reporter: the tax from prop 30 will last the next four years. in el cerrito, mike sugerman, cbs 5. >>> coming up in the next half hour a live report from washington, d.c. the latest on the "fiscal cliff" fiasco. and we'll look more closely at one part of the budget debate that's drawn a lot of attention, the possibility of skyrocketing milk prices. >> and a new report on...
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Dec 31, 2012
12/12
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KRON
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taxes to stay where they are. others want to see government spending put in check. >> the president has done nothing about the addiction and his administration has in spending. he is the center in chief. >> president obama says i offered over a trillion dollars and additional spending cuts. so we would have to dollars of spending cuts for every $1 of increased revenue. >> the senate reconvenes at 11:00 a.m.. as americans celebrate the beginning of 2013 they may wake up wishing it were 2012 when they had more money in their pockets. >> secretary of state hillary clinton is in the hospital with a blood clot. doctors say this is a medical problem related to a concussion suffered. the blood clot was found yesterday during a follow-up visit for her concussion. at this is video of new york presbyterian hospital where she is staying right now. 65 you're a clinton severed a concussion several weeks ago after fainting while recovering from a stomach virus. she was supposed to return to work this week. rain in the new year
taxes to stay where they are. others want to see government spending put in check. >> the president has done nothing about the addiction and his administration has in spending. he is the center in chief. >> president obama says i offered over a trillion dollars and additional spending cuts. so we would have to dollars of spending cuts for every $1 of increased revenue. >> the senate reconvenes at 11:00 a.m.. as americans celebrate the beginning of 2013 they may wake up wishing...
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Dec 26, 2012
12/12
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KBCW
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the country is a week away from the tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid who is crafting a package on his own. it would extend the bush era tax cuts for households making less than $250,000 a year including the short-term spending cuts. >>> and it is a scary statistic for the recent college graduates. the number of young californians with the degrees working in restaurants or the retail, they have nearly doubled over the last five years. cbs 5 reporter tells us that these are the same people who have expensive college loans to pay off. >> reporter: when you're shopping this holiday season, or eating out, take a look around. you might notice a lot more people under 30 working those jobs. according to the census bureau, there are about 260,000 young adults with college degrees in california, taking work and food service in retail because they can't get anything else. >> it's pretty sad now, yeah. >> reporter: graduating with a computer science degree. >> i graduated with my b
the country is a week away from the tax increases and deep spending cuts that will be triggered without an agreement. the next move will likely fall on democratic senate leader harry reid who is crafting a package on his own. it would extend the bush era tax cuts for households making less than $250,000 a year including the short-term spending cuts. >>> and it is a scary statistic for the recent college graduates. the number of young californians with the degrees working in restaurants...
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Jan 1, 2013
01/13
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KPIX
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one step can be quite taxing. >> sales taxes here tomorrow 9.5%. sales tax right here tomorrow, 9%. >> reporter: so we're live here at safeway at the del norte bart station. it's mobbed. i'm not sure people are trying to save an extra penny every four dollars. it's new year's eve. but they are getting cheaper goods today and this tax will continue for the next four years. live in el cerrito, mike sugerman, cbs 5. >> thank you. >>> some people will have more money to spend come new year's. san francisco's minimum wage will be increased to $10.55 an hour. and that makes it the highest in the u.s. >>> a not guilty plea from a woman accused of killing a pedestrian at san francisco overlook. 23-year-old gina eunice appeared in court today on charges of vehicular manslaughter, dui and hit-and- run. police say her blood alcohol level was nearly three times the legal limit. but her attorney insists her million-dollar bail is unfair. >> i think it would be really so much better for this family which is not to denigrate what the yao family is going through b
one step can be quite taxing. >> sales taxes here tomorrow 9.5%. sales tax right here tomorrow, 9%. >> reporter: so we're live here at safeway at the del norte bart station. it's mobbed. i'm not sure people are trying to save an extra penny every four dollars. it's new year's eve. but they are getting cheaper goods today and this tax will continue for the next four years. live in el cerrito, mike sugerman, cbs 5. >> thank you. >>> some people will have more money to...
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Jan 1, 2013
01/13
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FOXNEWSW
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the plan also expands the child tax credit earned income tax credit and up to $2,500 tax credit for college tuition. unemployment benefits would be extended for one year and the same for the medicare dock fix. the social security payroll tax cut reverts to a 6.2%. on the estate tax, the estate tax will have a 10-million-dollar exemption per couple with additional inheritance taxed at 40 pierce. these are details just coming out. they are influx. they could change. but we thought we would give you what we could. some of it is in the weeds but a lot of people are interested in the weeds. let's take a look at wall street's reaction to the ongoing cliff negotiations. fox business network correspondent rich edson is on capitol hill. rich, you know, the market had a pretty good day today as all this talk was going back and forth. and i guess before the market closed. a lot of the talk was they were really, really close to a deal. >> right, bret. when you consider earlier in the day when we started getting news that they were moving much closer to a compromise, wall street jumped at this and staye
the plan also expands the child tax credit earned income tax credit and up to $2,500 tax credit for college tuition. unemployment benefits would be extended for one year and the same for the medicare dock fix. the social security payroll tax cut reverts to a 6.2%. on the estate tax, the estate tax will have a 10-million-dollar exemption per couple with additional inheritance taxed at 40 pierce. these are details just coming out. they are influx. they could change. but we thought we would give...
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Dec 28, 2012
12/12
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KTVU
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it will soon mean higher sales tax and higher income tax on the state's top earners. the fiscal cliff would add to that hitting all americans with higher taxes. >> i don't know, there's a word to describe how upset the public is going to be. nobody's going to be happy to see that happen. >> if taxes go up on everybody it's not going to be a happy time. but i think that's inevitably what's going to happen. >> they say the lowest income folks will see their take home pay shrink just over three and a half%. average earners 4% and top earners 6%. >> another sign the housing market is improving, the national association of realtors says pending home sales rose last month to the highest level in 2 and a half years. pending sales rose nearly 2% in november and that's the third month in a row it's gone up. >> amazon had a green christmas season. they announced the 2012 holiday sales were the biggest ever. they had several record setting days including cyber monday when customers ordered 26 and a half million products. they won't give exact numbers but say sale of the kindle d
it will soon mean higher sales tax and higher income tax on the state's top earners. the fiscal cliff would add to that hitting all americans with higher taxes. >> i don't know, there's a word to describe how upset the public is going to be. nobody's going to be happy to see that happen. >> if taxes go up on everybody it's not going to be a happy time. but i think that's inevitably what's going to happen. >> they say the lowest income folks will see their take home pay shrink...
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higher sales taxes and income taxes on the top earners. the fiscal cliff would hit all of that. >> i don't know if there is a word to describe how mad the public is going to be. nobody is going to be happy to see that happen. >> if taxes go up on everybody; it will not be a happy time. i think that is what will happen. >> meanwhile the tax policy center says they will see their take home pay shrink just over 3.6%. >>> at a time when people were mourning the horrible sandy hook shooting one new york woman took advantage of that sympathetic spirit by allegedly setting up a charity scam in connection to that tragedy. 37-year-old noel alba set up an internet scam claiming to be the aunt of six-year-old noah pozner. no a's uncle says he is disgusted someone would do this. >> my nieces and i think of these scammers they are stealing from them. they are survivors of this tragedy. >> the fbi says four days after the school shooting all of the money was refunded to donors. alba the mother of two teens denies opening the fund and says someone hacked
higher sales taxes and income taxes on the top earners. the fiscal cliff would hit all of that. >> i don't know if there is a word to describe how mad the public is going to be. nobody is going to be happy to see that happen. >> if taxes go up on everybody; it will not be a happy time. i think that is what will happen. >> meanwhile the tax policy center says they will see their take home pay shrink just over 3.6%. >>> at a time when people were mourning the horrible...
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. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm programs will expire at the end of the year. some are calling that dairy cliff. live in new york, wendy gillette. >> wendy gillette in new york. thank you. >>> the country has lost one of its great warriors. tributes are pouring in this morning for retired general norman schwarzkopf. the general died yesterday in tampa after a battle with pneumonia. schwarzkopf commanded "operation desert storm" that drove iraqi forces from kuwait. in retirement, he championed causes. norman schwarzkopf was 78. >>> now, to former president george h.w. bush's condition. his chief of staff says he will be in the hospital for a while. the 41st president is recovering from a terrible case of bronchitis with a series of complications. she says that mr. bush is g
. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm programs will expire at the end of the year. some are calling that dairy cliff. live in new york, wendy gillette. >> wendy gillette in new york....
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Dec 31, 2012
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the tax impact for the average american family is more than $3400. senate leaders continue to work on the stop gap bill. the sticking points remain. >> there is still significant distance between the two sides. negotiations continue. >> negotiations will continue through the night. now with just hours to go until the deadline. abc news, washington. >>> as the government teeters on the edge of the fiscal cliff, you might want to change your tax strategy. coming up at 11:35, advice from 7 on your side's michael finney. >>> the leaders in the house and the senate did agree on something today. they extended the 2008 farm bill for one more year. that bill expired in october. milk prices could have doubled to $7 a gallon next month if lawmakers failed to extend it. the agreement prevents the government from returning to a 1948 formula to set milk prices. some economists call this the dairy cliff. >>> today was the last sunday for free meter parking in san francisco. next sunday you will have to pay from noon to 6:00 p.m. atish ifer man's wharf from noon un
the tax impact for the average american family is more than $3400. senate leaders continue to work on the stop gap bill. the sticking points remain. >> there is still significant distance between the two sides. negotiations continue. >> negotiations will continue through the night. now with just hours to go until the deadline. abc news, washington. >>> as the government teeters on the edge of the fiscal cliff, you might want to change your tax strategy. coming up at 11:35,...
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tax group that i run, we want to continue the tax -- lower tax rates for all americans. we want to go to the tax reform that's in the paul ryan budget. the house of representatives has already pass ed twice the ryan budget, which reforms taxes for all americans, takes the top rate to 25%, which is what the europeans do for the business community. we want to go there. how do you get there? i'm not sure that defeating plan b strengthens our ability to get there. i think, in fact, that plan b was a good step in the right direction towards protecting and continuing the tax cuts for everybody. >> and do you think that republicans sort of shot themselves in the foot because they defeated this. at the end of the day, the votes might be there for tax increases that from the republican perspective, are even worse than what the speaker offered that they wouldn't let him even bring up for a vote. >> as i read the speaker's proposal, plan b, i thought it moved us in the direction of maintaining all the bush tax cu cuts. look, this is not a fight that begins and ends the first week o
tax group that i run, we want to continue the tax -- lower tax rates for all americans. we want to go to the tax reform that's in the paul ryan budget. the house of representatives has already pass ed twice the ryan budget, which reforms taxes for all americans, takes the top rate to 25%, which is what the europeans do for the business community. we want to go there. how do you get there? i'm not sure that defeating plan b strengthens our ability to get there. i think, in fact, that plan b was...
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Dec 25, 2012
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. >> this would undo a lot of the good of the extra taxes carolinianstns are willing to invest. particularly special needs would have cuts as much as 10 10%. also, the meals program. >> it is not just the immediate cuts that worries the local officials. it is also the on going uncertainty that comes from the stalemate in washington, a stalemate that bay area officials fear could affect the economy just when it is starting to recover. >> we are looking guard to a better economy. this would ruin all the progress that has been made. >> it is a signal that we can't get together. that is probably the worst decisions in the future. >> the fear is the uncertainty will go on, even if there is an agreement. the cuts may come but it is the uncertainty in these times and the one for new investment to be becoming in the bay area that has local officials worrying we may just wind up sinking into the mud once again. phil matier. back to you. >> i think a lot of peel thought this staring contest wouldn't have gone on. >> reporter: some people thought the election might have answered some of th
. >> this would undo a lot of the good of the extra taxes carolinianstns are willing to invest. particularly special needs would have cuts as much as 10 10%. also, the meals program. >> it is not just the immediate cuts that worries the local officials. it is also the on going uncertainty that comes from the stalemate in washington, a stalemate that bay area officials fear could affect the economy just when it is starting to recover. >> we are looking guard to a better...
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Dec 28, 2012
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that's when automatic tax hikes and spending cuts go into effect. senate majority leader harry reid says even if something gets done now there may not be enough time to get it through congress. we'll just wait to see what happens. >> we have been waiting a long time. >> i know. >> hopefully the deadline will help. >>> we have a big holiday weekend and a wee bit of rain. >> that's this afternoon the right now it's cold. that's what we'll focus on in the meantime. cold temperatures are dipping below freezing now. look at fairfield, that's just dropped to 31 degrees. some people scraping some frost off their windshields this morning. 39 in vallejo. 35 santa rosa. so all that blue tells us it's chilly. and unfortunately by this afternoon, well, i guess it's fortunately if you like the cold weather, but it is going to be slightly cooler today than yesterday. a lot of low 50s. 52 santa rosa. only 50 in fairfield. a little more mild around the bay, 54 in oakland and fremont. as frank just mentioned, the rain, light rain set to hit the bay area friday after
that's when automatic tax hikes and spending cuts go into effect. senate majority leader harry reid says even if something gets done now there may not be enough time to get it through congress. we'll just wait to see what happens. >> we have been waiting a long time. >> i know. >> hopefully the deadline will help. >>> we have a big holiday weekend and a wee bit of rain. >> that's this afternoon the right now it's cold. that's what we'll focus on in the meantime....
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Dec 31, 2012
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the democrats are divided on tax rates, on the death tax, on taxes on small business and the republicans are holding firm that you actually have to deal with the number one problem in our nation which is the spending our debt. >> senator, the senate is reconvening this morning. how close are we actually to some kind of a deal here? >> i'm hoping that we get an arrangement and an agreement because the american people deserve certainty. what we ought to do is put a bill on the senate floor and let people offer amendments and vote on them. we shouldn't be here waiting for people to cut deals on back rooms. the american people ought to be able to watch the discussion and the debate and how people vote on various issues the death tax, tax rates, and how the money is going to be used because that's the big question. how are they going to use the money? >> senator, we heard president obama say in an interview that if congress can't get anything done and we go over the fiscal cliff, that plan "d" essentially is to have another vote on january 4th when the new congress comes in, and that would ju
the democrats are divided on tax rates, on the death tax, on taxes on small business and the republicans are holding firm that you actually have to deal with the number one problem in our nation which is the spending our debt. >> senator, the senate is reconvening this morning. how close are we actually to some kind of a deal here? >> i'm hoping that we get an arrangement and an agreement because the american people deserve certainty. what we ought to do is put a bill on the senate...
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Dec 28, 2012
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taxes on capital gains and dividends will jump. the 2% payroll tax holiday ends. the alternative minimum tax will hit more families. long-term unemployment benefits expire. >> sad it got to this point, and it's scary, if anything. hopefully they're able to get to something this week. >> reporter: analysts say congress may miss its own deadline, and that could tee up a january fix, but damage may be unavoidable. >> when push comes to shove, they will find a way to bridge their differences. and it may not be pretty, but it will get done. it may get done in such a chaotic fashion that the economy will pay a price. >> reporter: so we hear from more democrats and republicans this sort of acceptance they might slip past that january 1st deadline and keep working on this. at the same time, both sides said they want to get a deal, and they know there's a lot of pressure from their constituents, from the larger political environment to do something. will this afternoon's meeting have an impact? too soon to say, but it's a step that's intended to show they're working at it.
taxes on capital gains and dividends will jump. the 2% payroll tax holiday ends. the alternative minimum tax will hit more families. long-term unemployment benefits expire. >> sad it got to this point, and it's scary, if anything. hopefully they're able to get to something this week. >> reporter: analysts say congress may miss its own deadline, and that could tee up a january fix, but damage may be unavoidable. >> when push comes to shove, they will find a way to bridge their...
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he wants to make sure that taxes don't go up for 98% of americans. and that some of the spending cuts don't happen. >> there's a framework of a framework of a framework. >> very well. >> you're hosting "this week" on sunday. i assume you'll have things to discuss this sunday. chuck schumer, jon kyl, joining jon karl. >>> some somber news this friday morning. we begin with the death of a true military hero. a man president obama has called an american original. he was a four-star general. but most americans simply knew him as stormin' norman. in 1990, norman schwarzkopf was a little-known army general looking towards retirement. a west point graduate and decorated officer for his service in vietnam, he spent his entire career in the army. but when iraq's dictator, saddam hussein, invaded kuwait in 1990, stormin' norman became a household name. as the leader of the u.s.-led international coalition that quickly drove iraqi forces out of kuwait, schwarzkopf achieved rock star status. he returned from the persian gulf a national hero. and was awarded the
he wants to make sure that taxes don't go up for 98% of americans. and that some of the spending cuts don't happen. >> there's a framework of a framework of a framework. >> very well. >> you're hosting "this week" on sunday. i assume you'll have things to discuss this sunday. chuck schumer, jon kyl, joining jon karl. >>> some somber news this friday morning. we begin with the death of a true military hero. a man president obama has called an american...
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with incomes of $174,000, they'll pay some $7,500 more in taxes. and it's not just taxes. on january 1, unemployment benefits expire for some 2 million people. you can expect one last effort, including a meeting at the white house with congressional leaders to try to prevent the fiscal cliff from happening. but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be done in time. jonathan karl, abc news, new york. >>> tributes are pouring in for retired general norman schwarzkopf. the general, nicknamed stormin' norman, died yesterday in tampa from pneumonia. schwarzkopf commanded operation desert storm, the coalition of some 30 countries that drove iraqi forces from kuwait back in 1991. in retirement, he supported charitable causes and resisting calls to run for public office. norman schwarzkopf was 78. >>> for the second time this month, a man has been pushed to his death in the path of a new york subway train. last night, eyewitnesss say a mumbling woman shoved a man onto the tracks just as the train was pulling into an eleva
with incomes of $174,000, they'll pay some $7,500 more in taxes. and it's not just taxes. on january 1, unemployment benefits expire for some 2 million people. you can expect one last effort, including a meeting at the white house with congressional leaders to try to prevent the fiscal cliff from happening. but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be done in time. jonathan karl, abc news, new york. >>> tributes are pouring in...
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if not, we heard this, massive tax hikes, spending cuts will kick in automatically. the president and congress are due back in washington tomorrow. >>> and it is back to the mall today for millions of americans. today is expected to be the fifth-busiest shopping day of the year. but it's been a disappointing season so far for retailers, who are reporting the weakest sales growth since 2008. but the week between christmas and new year's can account for as much as 15% of holiday sales. >>> and more good news for hollywood, which is wrapping up a record year at the box office. "les mis" starring anne hathaway, hugh jackman, and russell crowe, had a strong opening. taking in a better-than-expected $17 million. ticket sales are up about 6% compared to last year. can't wait to see that one. >>> finally, if your christmas dessert just wasn't enough, well look what just rolled in. this, my friends, is the creation of a belgian chocolate company. the world's longest vintage chocolate steam train. did i mention it's chocolate. 110 feet of it. solid, nothing hollow. >> all that
if not, we heard this, massive tax hikes, spending cuts will kick in automatically. the president and congress are due back in washington tomorrow. >>> and it is back to the mall today for millions of americans. today is expected to be the fifth-busiest shopping day of the year. but it's been a disappointing season so far for retailers, who are reporting the weakest sales growth since 2008. but the week between christmas and new year's can account for as much as 15% of holiday sales....
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without an agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. >> we will be right back. >> for the rest of today we are looking for showers. tomorrow there will be lots of sun shine. satellite and radar shows a there will be a big storm for the mountains. right now most of the showers are starting to decrease. futurecast 4 shows that some showers will be in the south bay but that will be scattered. by the late afternoon we may see sunshine as we start to clear out the skies. the sierra forecast shows a they have a winter storm advisor. they are expected to receive three to 6 in. of snow. this is great news for snow boarders and skiers. >> the highs for today will be in the mid '50s for oakland and the east bay. it will be 53 degrees for downtown san francisco. here is a look at your 7 day around the bay forecast. decreasing clouds for the afternoon and may be a bit brisk today. friday and saturday will be unsettle but on sunday will have clearing skies around mid '50s. on monday it will be sunny and higher in the '50s. it will be d
without an agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. >> we will be right back. >> for the rest of today we are looking for showers. tomorrow there will be lots of sun shine. satellite and radar shows a there will be a big storm for the mountains. right now most of the showers are starting to decrease. futurecast 4 shows that some showers will be in the south bay but that will be scattered. by the late afternoon we may...
SFGTV: San Francisco Government Television
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Dec 30, 2012
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to one $.6 billion paid in excess taxes generated from this site. pier 70 is a bit more complicated in that it's divided into a number of districts and a master plan starting in 2,007 and the commission chose to let out pourings of this site in sort-of a segmented manner and the water personal property site is the site under contract for a city development or in development is managing the rehabilitation of the historic buildings along 20th street, we have our ship repair under least and you have heard david talk about cran copark. four city's this the process of doing due diligence for the property right now and they are concerned that it's sea level rise and the city's team will be consulting with the chief hash engine here about raising the grade of this site so it's not subject to innonedation in the future. very interesting engineering constraints at pier 70 there were slip ways built by the federal government to facility ship repairs and it's difficult to buildbled on those and that is blue line that you see here and that is demarks the only s
to one $.6 billion paid in excess taxes generated from this site. pier 70 is a bit more complicated in that it's divided into a number of districts and a master plan starting in 2,007 and the commission chose to let out pourings of this site in sort-of a segmented manner and the water personal property site is the site under contract for a city development or in development is managing the rehabilitation of the historic buildings along 20th street, we have our ship repair under least and you...
SFGTV: San Francisco Government Television
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Dec 29, 2012
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>> no, it wouldn't align with a kind of 60% ami tax credit and, in fact, the program prevents you from meeting your inclusionary obligation through the taking advantage of other subsidies. so we wouldn't see that alignment. >> so they are generally done not with other subsidies? >> that is my understanding. the 70% threshold is in the code. these are great questions and policy questions to come back and address, but our procedures manual update doesn't contemplate a change to that. >> i wasn't familiar with the offsite ami was encouraged. there is some reason if the ami is lower off-site, that is some rationale to have them offsite? >> i can come back and report on that. i think it's a very fair question. certainly on the face of it it means to get deeper affordable, . >> i'm sorry, deputy city attorney susan cleveland knowles, just to correct one thing mr. adams just said, the current code does not provides that if you are doing a tax-exempt project you are not subject to the inclusionary housing program at all. the ordinance that you will hear in your next item puts the tax exemption
>> no, it wouldn't align with a kind of 60% ami tax credit and, in fact, the program prevents you from meeting your inclusionary obligation through the taking advantage of other subsidies. so we wouldn't see that alignment. >> so they are generally done not with other subsidies? >> that is my understanding. the 70% threshold is in the code. these are great questions and policy questions to come back and address, but our procedures manual update doesn't contemplate a change to...
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tax to 7.5% for four years. california voters okayed the hike to safe schools from deeper cuts. >> i have a 17-year-old daughter and grandchildren going to be in school. whatever we've got to do, we'll dig in deeper to help. >> not everyone is happy with another tax hike. >> in the looking forward to it. this n reason for it to improve things but i never see it going towards that. >> also, help for senior citizens modeled after the amber alert a silver alert for anyone 65 or older who is missing and in great danger because of the medical conditions like alzheimer's. families typically have to wait 24 hours to file a report. >> silver alert law just super sides all of that. and puts the enforcement into action. looking for senior who's are lost. >> and in 2013 changing some driving laws. lots of californians using smart phones you'll be able to whip out proof of insurance on those devices. mike dobson loves this idea. >> is. >> this is with you all the time what. a wonderful thing f you vit with you, we can have
tax to 7.5% for four years. california voters okayed the hike to safe schools from deeper cuts. >> i have a 17-year-old daughter and grandchildren going to be in school. whatever we've got to do, we'll dig in deeper to help. >> not everyone is happy with another tax hike. >> in the looking forward to it. this n reason for it to improve things but i never see it going towards that. >> also, help for senior citizens modeled after the amber alert a silver alert for anyone...
SFGTV: San Francisco Government Television
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take things for granted without having empirical data we have this habit that we can just spend the tax payers money. i know farmers in the mid-west who are paid not to till the land while half the land they grow corn which when the final product comes out costs $74 a gallon. tank clean energy. so we need to go deeper into it. it's not to say that the deliberation here favors that we do the right thing. we really need to do the right hing with empirical data, not with fluff, and as one who is a philosopher and i go really deep into things and read stuff i will not tolerate fluff. i will expose it. i will shine light where there is darkness. thank you very much. >> thank you. any other members of the public would like to comment? seeing none. we will close public comment. and madam clerk do we have any other items before us? >> no mr. chr app >> everyone deserves a bank account. in san francisco, anyone can have a bank account, things to an innovative program, bank on s.f. >> everyone is welcome, even if you are not a citizen or have bad credit to qualify for a bank account is simple.
take things for granted without having empirical data we have this habit that we can just spend the tax payers money. i know farmers in the mid-west who are paid not to till the land while half the land they grow corn which when the final product comes out costs $74 a gallon. tank clean energy. so we need to go deeper into it. it's not to say that the deliberation here favors that we do the right thing. we really need to do the right hing with empirical data, not with fluff, and as one who is a...
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and income taxes on the state's top earners. the fiscal cliff would add to that, hitting all americans with higher taxes. >> i don't know there is a word to describe how pissed the public is going to be, nobody going to be happy to see that happen. >> if taxes go up on everybody it is not going to be a happy time but i think that is inevitably what is going to happen. >> the tax policy center says the lowest income people will shrink over 3%, average owners 4% and top earns about six%, secretary of state hillary clinton is expected to return to work next week, a spokesman for her says she continues to recuperate at home and well resume her work schedule next week. doctors say she contracted a stomach virus and became dehydrated and fainted and hit her head and diagnosed with a concussion and has not been seen in public since. >>> the contra costa fire county district has scheduled meetings to discuss fire station closure, four of the 28 stations are set to close on january 15th in those areas. the fire chief and board members wi
and income taxes on the state's top earners. the fiscal cliff would add to that, hitting all americans with higher taxes. >> i don't know there is a word to describe how pissed the public is going to be, nobody going to be happy to see that happen. >> if taxes go up on everybody it is not going to be a happy time but i think that is inevitably what is going to happen. >> the tax policy center says the lowest income people will shrink over 3%, average owners 4% and top earns...
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say the aftermath of super storm sandy and newtown connecticut shootings and possibility of higher taxes have people watching the bottom line, but here in the bay area consumer spending is following the normal trend. >> we had a spike black friday, a strong first two weeks of december, then it kind of let off and now it's back with a furry. >>reporter: a fury they hope translates to higher sales and holiday smiles. retailers count on the holiday shopping season for about 40% of yearly sales. >>> carolers in san francisco this morning. the they're collecting toys for children across the bay area. among the special appearances, the giant's world series trophy, santa, and the mayor. >> it's a great way to start christmas eve and wishing everyone a really merry christmas. >> you don't even have to go to the union square restaurant to donate. cabs are on call. just call them and they'll come to you and pick up donations. >>> how an emergency response falls into a deadly ambush. >>> how food allergies can lead to other problems at school. >>> how an extreme holiday house is turning the spirit
say the aftermath of super storm sandy and newtown connecticut shootings and possibility of higher taxes have people watching the bottom line, but here in the bay area consumer spending is following the normal trend. >> we had a spike black friday, a strong first two weeks of december, then it kind of let off and now it's back with a furry. >>reporter: a fury they hope translates to higher sales and holiday smiles. retailers count on the holiday shopping season for about 40% of...
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in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average person's paycheck in 2013 by about $1500. long-term unemployment benefits for about two million jobless americans are also set to expire. and 110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government contractors. economists predict that if congress doesn't act, all those cuts and new taxes will push the economy back into a mild recession by mid 2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1. that's because the irs and other agencies didn't expect it to come to this. so it could be a few weeks before workers see more money being withheld in their paychecks. cbs news in hawaii. >>> former president george h.w. bush is in intensive care at a hospital in houston. a fever that kept mr. bush in the hospital over christmas has apparently gotten worse. doctors have him on a liquid- only diet. a bush family spokesperson says t
in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average person's paycheck in 2013 by about $1500. long-term unemployment benefits for about two million jobless americans are also set to expire. and 110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government contractors. economists predict that if congress doesn't act, all those cuts...
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and when that ball comes down in times square tonight, every american's taxes will go up. what happened? >>> the other breaking story tonight. hillary's health. doctors reveal it is a blood clot near mrs. clinton's brain keeping her in the hospital. dr. besser right here with what this means. and what mrs. clinton just told barbara walters after becoming the most traveled secretary of state. >> are you exhausted? >> i am. to be honest, i am. >>> the big chill. a million americans in times square tonight. this evening, the security, the weather. some of the coldest temperatures of the winter. and what we didn't know about something else that will be falling at midnight.
and when that ball comes down in times square tonight, every american's taxes will go up. what happened? >>> the other breaking story tonight. hillary's health. doctors reveal it is a blood clot near mrs. clinton's brain keeping her in the hospital. dr. besser right here with what this means. and what mrs. clinton just told barbara walters after becoming the most traveled secretary of state. >> are you exhausted? >> i am. to be honest, i am. >>> the big chill. a...
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Dec 27, 2012
12/12
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FOXNEWSW
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this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left as far as businesses also deal with their own tax hikes. >> you are going to see less money in your paycheck. >> the government has to bite the bullet with $1.2 trillion in spending cuts. more than half of that is to the defense budget. >> they say families may need austerity calculation before making big purchases. look at the money you have and the money you need in the future to decide if you need the next big picture. doug? >> doug: thank you, molly. residents of the webster new york neighborhood set ablaze christmas eve have been allowed to return back to their homes. they say exconflict william spangler set the fire as a trap to lure firefighters
this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left as far as businesses also deal with their own tax hikes. >>...
220
220
Dec 31, 2012
12/12
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FOXNEWSW
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unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going over the cliff may not look great but the dow is up for the time being. we have fox coverage with wendell at the white house. but, first, mike is live on capitol hill. the senate leader is the -- actually, the minority leader, what is he telling colleagues? >>reporter: he said they are very, very close. he would like to take action to avoid having americans suffer a huge tax increase in a matter of ten hours. there are a lot of anxious senators walking around wondering if or when they will get a chance to vo
unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace:...
139
139
Dec 26, 2012
12/12
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FOXNEWSW
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eye 139
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this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left won't go as far as businesses also deal with their own tax hikes. >> you are going to see less money in your paycheck. >> the government has to bite the bullet with $1.2 trillion in spending cuts. more than half of that is to the defense budget. >> they say families may need austerity calculation before making big purchases. look at the money you have and the money you need in the future to decide if you need the next big picture. doug? >> doug: thank you, molly. residents of the webster new york neighborhood set ablaze christmas eve have been allowed to return back to their homes. they say exconflict william spangler set the fire as a trap to lure fir
this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left won't go as far as businesses also deal with their own tax hikes....
142
142
Dec 27, 2012
12/12
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FBC
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eye 142
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they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest problem is the uncertainty with all this. we're at december 27th. we're talking about changing the rules of the game. i think from an economist's standpoint, from an investor's standpoint rules, whether they're tax rates or spending rates, those are the signposts for the entrepeneurs. that is how entrepreneurs set the agenda for growth and economic activity. if you're adjusting those signposts, adam, at the last second, that is bad for growth. sort of like if you're on the super high wand a keep changing exit signs. you can't stop. adam: steve hayes, i will get to you in a
they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest...
409
409
Dec 25, 2012
12/12
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KGO
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eye 409
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higher taxes will loom. for americans that bring in $50,000 to $75,000 they will see an increase of $2300. people who make between $75,000 to $100,000 will pay almost double that. news about the fiscal cliff has not been good with the president and congress far apart. if they can't agree on a budget plan by january 1st, government spending cuts will increase automatically. market watchers worry that it will put the country into a recession. >> dan: annual toy drive is in full swing. there are not enough toys so far. so a plea is going out to lefty o'doul's at union square. that is where tomas ramon is live with the story tonight. >> reporter: i seek behind me there are firefighters here, they are collecting toys that people are driving by and dropping off. they collected 4600 toys so far. it's far less than 15,000 they were hoping to collect so they are asking people if they can't want to give a toy for christmas drive by and drop off a gift. six-year-old jordan young has new toy cars for christmas. he is on
higher taxes will loom. for americans that bring in $50,000 to $75,000 they will see an increase of $2300. people who make between $75,000 to $100,000 will pay almost double that. news about the fiscal cliff has not been good with the president and congress far apart. if they can't agree on a budget plan by january 1st, government spending cuts will increase automatically. market watchers worry that it will put the country into a recession. >> dan: annual toy drive is in full swing. there...
392
392
Dec 26, 2012
12/12
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KPIX
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eye 392
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heven days for the white house and congressional leaders to reach a budget deal to avoid tax increases for nearly every american. president obama is on vacation in hawaii, and that's where we find nancy cordes tonight. nancy, what can you tell us? >> well, jim, still no conversations today between owmocrats and republicans on how to avert the fiscal cliff, which is a sure sign that the senate majority leader, harry reid, a democrat, is working on crafting legislation on his own that he would essentially dare house and senate republicans to oppose. his legislation would likely extend the bush-era tax cuts for households making less than 250,000 a year. it might also include enough short-term spending cuts to temporarily offset for, say, six or eight months, the indiscriminate across-the-board spending cuts that are set to go into effect on january 1. yis bill would also try to tie up some year-end loose ends by extending long-term unemployment benefits, patching the alternative minimum tax that duds up hitting so many middle class families, and preventing a mbg scheduled drop-off in thd
heven days for the white house and congressional leaders to reach a budget deal to avoid tax increases for nearly every american. president obama is on vacation in hawaii, and that's where we find nancy cordes tonight. nancy, what can you tell us? >> well, jim, still no conversations today between owmocrats and republicans on how to avert the fiscal cliff, which is a sure sign that the senate majority leader, harry reid, a democrat, is working on crafting legislation on his own that he...